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Would you be okay with the company, CGC, buying and selling raw comics?

Started by thirdgreenham,

100 posts in this topic

eastriver

eastriver

Posted
Posted

 

I am new to getting comics professionally graded by a third pary. In fact the comics I submitted haven't even been graded yet. I like the idea of slab bed comics...very much so in fact. It works for both buyers and sellers. I chose CGC mostly because the consensus had already chosen CGC for impartiality. The trust is there. Why risk losing that trust? Greed? Is it worth it? It may be. Who am I to say otherwise. However I do know business, and if your business is based on perceived impartiality and integrity you shouldn't do anything to risk losing that. Not at the top. Too much greed is piggish, and pigs get slaughtered.

 

Also, I am not Stu nor do I even know who Stu is. Lastly, thanks for the news flash. Nothing like a warm welcome.

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kav

kav

Posted
Posted

I am new to getting comics professionally graded by a third pary. In fact the comics I submitted haven't even been graded yet. I like the idea of slab bed comics...very much so in fact. It works for both buyers and sellers. I chose CGC mostly because the consensus had already chosen CGC for impartiality. The trust is there. Why risk losing that trust? Greed? Is it worth it? It may be. Who am I to say otherwise. However I do know business, and if your business is based on perceived impartiality and integrity you shouldn't do anything to risk losing that. Not at the top. Too much greed is piggish, and pigs get slaughtered.

 

Also, I am not Stu nor do I even know who Stu is. Lastly, thanks for the news flash. Nothing like a warm welcome.

How do you feel about knives?

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Transplant

Transplant

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Posted

Seemed an apropos (thanks Miles) time to bump some past posts.

 

There was something written above that I thought was odd. I imagine someone working for a comic grading company likes comics but they aren't allowed to buy them if they work there? Really?

 

Clarification: Commercial buying or selling, which means they can't buy or sell them as a "dealer." The official verbiage is: "CGC does not buy or sell comic books and does not have a financial interest in the comic books that we certify. In fact, employees of CGC are prohibited from buying and selling comic books commercially."

 

Yes, they can buy them personally.

 

Here's an explanation from Scott Schechter, VP at NGC:

 

Most of the people who work at NGC genuinely love coins. Some are collectors and joined NGC so that they could pursue their passion full time. Others, if they are not actively collecting, appreciate coins enough to buy something now and again when it strikes their fancy.

 

If we prohibited all full-time employees from buying or selling coins, period, that policy would make it impossible for collectors to work for NGC. Instead, full-time employees cannot own or have financial interest in a dealership or buy or sell coins for a commercial account.

 

The reason for this is simple: to eliminate potential conflicts of interest. Just imagine grading coins for a customer that are nicer than the coins you have in your own inventory…how impartial could you be? That’s a situation that we would never let happen at NGC.

 

We think this policy is an important and meaningful discriminator among grading services, which is why we post it on our website. The reason that we word it with the qualifier, “commercially,” is simply to be honest and accurate. Certified Collectibles Group employees do follow a detailed compliance procedure to aid enforcement of this policy, but despite that inconvenience (and it can be a headache) we don’t want to preclude anyone who is truly passionate about rare coins from joining NGC.

 

Substitute "CGC" for "NGC", and there you go.

Good thing Mark is a consultant and not a full-time employee AND that he can't grade his own books, because that man can buy and sell some books just from what I've witnessed on the con floors. He always manages to beat me to most of the good books at dealers.

 

So either he's not doing it commercially or that loophole of not being a fulltime employee makes it okay.

 

Steve B. said that was one of the rules he insisted on when he set this up, and was why he collected OA. He also said that there were changes when Mark came back. Edit: Steve was long gone by then.

I was told by someone else, it was part of Mark's new contract, he is doing this above board.

 

There were rumours about others buying and selling before, but as with all rumours, who knows. I do know I was on line behind Mark a few times at shows, so he's certainly never hidden anything..

 

Completely agree. I wasn't insinuating anything was being done surreptitiously. Just pointing out to folks that at least one of the CGC "consultants" who does grade books, also buys and sells commercially.

 

But we've been assured by the press release that he never grades his own books. Of course, that begs the question as to how anyone would know that it's his book to be able to enforce this? Or what the effect of Mark refusing to grade a particular book (because it's his) has on the other graders who might be aware of that action (and, consequently, the fact that the book is Mark's)?

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namisgr

namisgr

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Posted
Let's just say, for interest sake, that CGC opened a buy/sell marketplace, and they themselves, were the ones buying and selling.

 

Would you have a problem with this? If yes, please explain why.

 

Yes, I would. The 'independent, third party' nature of the grading process would be compromised if CGC had a direct commercial interest in the grade and, hence, the selling value, of comics they both graded and offered for sale.

 

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eastriver

eastriver

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How does Stu do it?

 

East river. lol

Pretty sure that's not Stu. Stu's come and gone at least once since that guy signed up. :rulez:

 

:roflmao:

 

 

He is not Stu

Maybe Justin. lol

I am new to getting comics professionally graded by a third pary. In fact the comics I submitted haven't even been graded yet. I like the idea of slab bed comics...very much so in fact. It works for both buyers and sellers. I chose CGC mostly because the consensus had already chosen CGC for impartiality. The trust is there. Why risk losing that trust? Greed? Is it worth it? It may be. Who am I to say otherwise. However I do know business, and if your business is based on perceived impartiality and integrity you shouldn't do anything to risk losing that. Not at the top. Too much greed is piggish, and pigs get slaughtered.

 

Also, I am not Stu nor do I even know who Stu is. Lastly, thanks for the news flash. Nothing like a warm welcome.

How do you feel about knives?

OK, Stu.

 

 

 

-slym

 

 

 

Ha!! thanks for bumping. I missed this from my first few days here. Does this officially count as cyberbullying? Sweet!!!

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